Fully Leased Medical Office
905 Johns Hopkins Drive Greenville, NC 27834
905 Johns Hopkins Drive, Greenville, NC, 27834
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For Sale
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20,458 SF medical office on 4.35-acre site, leased to ECU Physicians with lease expiring Feb. 29, 2028.
Property Size20,458 SF
Lot Size4.35 Acres
Price / SF$212.63
Days on Market85
Property Features for 905 Johns Hopkins Drive
General Information
- Standard status
- Active
- Size
- 20,458 SF
- Lot size
- 4.35 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1989
Listing agency
The Overton Group
(252) 355-7006
Listed by
Michael Overton · License #NC 241885
Source
Crexi
Added: Apr 29 Updated: Jul 21 at 9:35PM Checked: Jul 22 at 12:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Overton Group
Investment Insights
Based on property information with market context.
905 Johns Hopkins Drive is a 20,458 SF medical office building on a 4.35-acre site. The property is fully leased to ECU Physicians, with rent backed by the State of North Carolina (AA credit) and annual 2% escalations through February 2028. Ownership has been formally notified of ECU’s intent not to renew the lease upon expiration on February 29, 2028.
The building is adjacent to ECU Health Medical Center and the Brody School of Medicine in Greenville, NC. Based on the current 2026 budget, the property is projected to generate $465,243.78 in gross rental income against estimated operating expenses of $107,973.12, resulting in an estimated net operating income (NOI) of $357,270.66. This is approximately $17.46 per square foot in NOI and reflects an estimated 8.21% capitalization rate.
The building is adjacent to ECU Health Medical Center and the Brody School of Medicine in Greenville, NC. Based on the current 2026 budget, the property is projected to generate $465,243.78 in gross rental income against estimated operating expenses of $107,973.12, resulting in an estimated net operating income (NOI) of $357,270.66. This is approximately $17.46 per square foot in NOI and reflects an estimated 8.21% capitalization rate.
Key Highlights
- 20,458 SF medical office building built in 1989 on a 4.35‑acre site in Greenville, NC
- Fully leased to ECU Physicians with rent backed by the State of North Carolina (AA‑credit)
- Lease expires Feb. 29, 2028; ECU has notified ownership of its intent not to renew
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $429.6k | $21.00 |
| − Vacancy | −$45.1k | −$2.21 |
| EGI | $384.5k | $18.80 |
| − OpEx | −$153.8k | −$7.52 |
| NOI | $230.7k | $11.28 |
20,458 SF · lease $21.00/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$3.30M
$2.88M – $3.85M
NOI $230,705 @ 7.0% cap · market cap 5.30%
Second Best
Office B
$3.15M
$2.75M – $3.67M
NOI $220,256 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$4.45M
$3.90M – $5.20M
NOI $311,741 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ECU PHYSICIANS
Hospital
Nadyah J John, ...
Physician
Gregory L. Duncan, ...
Physician
Thomas H Clay ...
Physician
Vivek Anand, MD
Physician
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FAQs
What type of property is this?
Medical Office Space - 20,458 SF medical office on 4.35-acre site, leased to ECU Physicians with lease expiring Feb. 29, 2028.
Where is this medical office space located?
The property is located at 905 Johns Hopkins Drive Greenville, NC.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: 20,458 SF medical office building built in 1989 on a 4.35‑acre site in Greenville, NC; Fully leased to ECU Physicians with rent backed by the State of North Carolina (AA‑credit); Lease expires Feb. 29, 2028; ECU has notified ownership of its intent not to renew
